Newfoundland Labrador

Province in Canada

2019
Economic
Complexity
: -1.08, Rank 10 of 10

Jan 2021
Trade
Exports | Imports
: C$ 1.05B | C$ 83.2M, 7 of 13 | 9 of 11

Jan 2021
Country
Destination | Origin
: United States | Belgium , C$ 467M  | C$ 26.8M

Jan 2021
Product
Exports | Imports
: Crude Petroleum | Refined Petroleum , C$ 559M  | C$ 67.7M

Overview: This page contains the latest international trade data for Newfoundland Labrador, including export and import data.

Exports: In 2020, Canada's Newfoundland Labrador exported C$ 10.4B, making it the 7th largest exporter out of the 13 exporters in Canada. In 2020 the top exports of Newfoundland Labrador were Petroleum oils, oils from bituminous minerals,... (C$ 5.27B), Iron ore, concentrate, not iron pyrites,... (C$ 1.4B), Iron ore, concentrate, not iron pyrites,unagglomerate (C$ 1.11B), Nickel unwrought, not alloyed (C$ 486M), and Crabs, frozen (C$ 423M).

Imports: In 2020, Canada's Newfoundland Labrador imported C$ 2.7B, making it the 9th largest importer out of the 13 importers in Canada. In 2020 top imports of Newfoundland Labrador were Petroleum oils, oils from bituminous minerals,... (C$ 828M), Floating, submersible drilling or production platform (C$ 735M), Light petroleum distillates nes (C$ 393M), Vessels: other, including lifeboats other than... (C$ 139M), and Fixed wing aircraft, unladen weight 2,000-15,000... (C$ 94.7M).

Economic Complexity: In 2019, the highest complexity exports of Newfoundland Labrador according to the product complexity index (PCI) are Newsprint (1.13), Raw Furskins (-0.19), Raw Nickel (-0.43), Electricity (-0.52), and Limestone (-0.66). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Comparison in Time

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Flow
Value

This section shows the differences between Newfoundland Labrador's total subnational aggregate trade throughout time. To explore the trade patterns of the country, visit Canada's country profile.

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Yearly Exports

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Depth

Top Destination (2020): United States, C$ 4.8B

Top Product (2020): Petroleum oils, oils from bituminous minerals,..., C$ 5.27B

In 2020 the top export destinations of Newfoundland Labrador were United States (C$ 4.8B), China (C$ 1.09B), Netherlands (C$ 1.05B), United Kingdom (C$ 874M), and Italy (C$ 655M).

In 2020 the top exports of Newfoundland Labrador were Petroleum oils, oils from bituminous minerals,... (C$ 5.27B), Iron ore, concentrate, not iron pyrites,... (C$ 1.4B), Iron ore, concentrate, not iron pyrites,unagglomerate (C$ 1.11B), Nickel unwrought, not alloyed (C$ 486M), and Crabs, frozen (C$ 423M).

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Exports Dynamics

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Fastest Growing Exports Destination (Jan 2020 - Jan 2021)

Rapidly Declining Export Origins (Jan 2020 - Jan 2021)

Yearly Imports

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Value
Depth

Top Origin (2020): United States, C$ 1.25B

Top Import (2020): Petroleum oils, oils from bituminous minerals,..., C$ 828M

In 2020 the top import origins of Newfoundland Labrador were United States (C$ 1.25B), South Korea (C$ 738M), Norway (C$ 209M), Turkey (C$ 69.2M), and Spain (C$ 66M).

In 2020 the top imports of Newfoundland Labrador were Petroleum oils, oils from bituminous minerals,... (C$ 828M), Floating, submersible drilling or production platform (C$ 735M), Light petroleum distillates nes (C$ 393M), Vessels: other, including lifeboats other than... (C$ 139M), and Fixed wing aircraft, unladen weight 2,000-15,000... (C$ 94.7M).

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Imports Dynamics

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Fastest Growing Import Origins (Jan 2020 - Jan 2021)

Rapidly Declining Import Origins (Jan 2020 - Jan 2021)

Economic Complexity

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Economic Complexity of Canada

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Newfoundland Labrador ranks 10th out of the 13 provinces in Canada according to ECI.

Estimated using exports data.

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Economic Complexity Ranking

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Scale

The economic complexity of a territory can change year to year. Newfoundland Labrador it is in position 10th considering its ECI in the last year.

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Export Opportunities by Relatedness

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The top export opportunities according to the relatedness level, without considering those products were Newfoundland Labrador already has a comparative advantage, are led by Fish Oil (0.039), Gold (0.034), Processed Fish (0.033), Animal Meal and Pellets (0.032), and Raw Aluminium (0.031).

Most Complex Products by PCI

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The highest complexity exports of Newfoundland Labrador according to the product complexity index (PCI) are Newsprint (1.13), Raw Furskins (-0.19), Raw Nickel (-0.43), Electricity (-0.52), and Limestone (-0.66). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Most Specialized Products by RCA Index

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The most specialized products according to the RCA index are led by Raw Nickel (40.5), Crustaceans (28.9), Iron Ore (28.6), Newsprint (21.1), and Crude Petroleum (9.02).

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since Newfoundland Labrador is more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Relatedness Space

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This network shows the products most related to the production structure of  Newfoundland Labrador. These are products that tend to be co-exported with the products that Newfoundland Labrador exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a territory's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.